Japan: Services Producer Price Index (YoY) - All Items

Macro

2026-08-26

Description

The Japan Services Producer Price Index (SPPI) is released by the Bank of Japan (BOJ) and measures the changes in prices across various services within Japan's service sector. This index covers all items within the service industry, including finance, real estate, transportation, and information services, making it a key indicator for assessing inflationary pressures and the economic condition of the service sector.

An increase in the Services Producer Price Index typically indicates rising prices in the service industry, which may result from higher labor costs, increased demand, or other rising production costs. Conversely, a decrease in this index may suggest declining service prices, potentially due to reduced demand or lower labor costs.

This data is released monthly, providing insights into the price changes within Japan's service sector for the previous month.

Published by
Bank of Japan (Choice)
Frequency
Monthly
Next Update
Hashtags

AI Data Insight

The year-on-year growth rate of Japan's Services Producer Price Index (SPPI) for the third quarter (Q3) of 2026 reached 3.6%, a significant expansion from the previous 3.2% in the second quarter (Q2) of 2026, highlighting intensifying inflation pressure in the services sector. Labor shortages driving up personnel costs and surging ocean freight rates caused by geopolitics are the two main factors. The robust data further solidifies market consensus that the Bank of Japan (BOJ) will initiate a new round of rate hikes as early as September.

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AI Data Insight

The year-on-year growth rate of Japan's Services Producer Price Index (SPPI) for the third quarter (Q3) of 2026 reached 3.6%, a significant expansion from the previous 3.2% in the second quarter (Q2) of 2026, highlighting intensifying inflation pressure in the services sector. Labor shortages driving up personnel costs and surging ocean freight rates caused by geopolitics are the two main factors. The robust data further solidifies market consensus that the Bank of Japan (BOJ) will initiate a new round of rate hikes as early as September.

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Description

The Japan Services Producer Price Index (SPPI) is released by the Bank of Japan (BOJ) and measures the changes in prices across various services within Japan's service sector. This index covers all items within the service industry, including finance, real estate, transportation, and information services, making it a key indicator for assessing inflationary pressures and the economic condition of the service sector.

An increase in the Services Producer Price Index typically indicates rising prices in the service industry, which may result from higher labor costs, increased demand, or other rising production costs. Conversely, a decrease in this index may suggest declining service prices, potentially due to reduced demand or lower labor costs.

This data is released monthly, providing insights into the price changes within Japan's service sector for the previous month.

Published by
Bank of Japan (Choice)
Frequency
Monthly
Next Update
Hashtags